Barclays fights £50m fine over Qatari capital September 16, 2013 BARCLAYS is fighting a £50m fine from the City watchdog, which has accused the bank of behaving improperly when it raised capital from Qatar in the financial crisis. Barclays is also looking into consumer loans in which may have wrongly overcharged hundreds of thousands of customers. The Financial Conduct Authority (FCA) believes the bank acted [...]
Online retailer The Hut Group sees revenue jump in first half September 16, 2013 THE FOOTWEAR-to-protein shake conglomerate The Hut Group yesterday reported a spike in net revenues for the six months ending June this year. The company, which added 250 new jobs over the last 12 months to take its headcount to 750 employees, reported a thirty per cent jump in revenues from £59.1m a year ago to [...]
Best of the brokers for 17 September 2013 September 16, 2013 PRUDENTIAL Broker Panmure Gordon has retained its buy rating but upgraded its target price for the insurer to 1,453p per share from 1,376p per share. It said it anticipates the Pru to announce a series of stretching targets at the start of December that will help the share price. BARCLAYS Nomura analysts have upgraded the [...]
Summers exit trumps fears of taper September 16, 2013 But uncertainty surrounding the nomination of the new Fed chair will mean volatility for stocks in the future LARRY Summers, former US Treasury secretary, is out of the race to replace Ben Bernanke as Fed chair. In reaction to the news, the MSCI All-Country World Index rose yesterday by 1.1 per cent to its highest [...]
Barclays faces £50m fines over “reckless” Qatari agreements September 16, 2013 Barclays has announced that it expects fines of £50m over payments between Qatar and the bank, where a regulator found that the bank had "acted recklessly", in a right issue prospectus released today. The bank said that the Financial Conduct Authority (FCA) had investigated agreements entered into by Barclays with Qatar Holding in June and [...]
Barclays expects £50m fine over Qatari payments investigation September 16, 2013 Barclays banks has confirmed that it faces fines of £50m over payments between Qatar and the bank, in a right issue prospectus released today. The FCA has investigated certain agreements, including two advisory services agreements entered into by Barclays Bank with Qatar Holding LLC (“Qatar Holding”) in June and October 2008 respectively, and whether these [...]
Barclays sees significant drop in investment bank income September 16, 2013 It's prospectus release day for Barclays – as they prepare to raise £5.8bn of capital through a rights issue (release). In an update on their current trading and prospects, things are looking less than rosy at the bank's investment banking arm: The Group's adjusted income for July and August 2013 was £0.5 billion lower than [...]
Surge in women on bank boards after credit crisis September 16, 2013 BRITISH banks have almost doubled the proportion of women on their boards in the past six years, according to research out today from recruiter Astbury Marsden. Twenty per cent of board directors are now women across the top five biggest UK lenders, up from 12 per cent in 2007. That is the same level as [...]
Real estate jobs boom a worry – but labour market rebalancing September 16, 2013 IT is the fact of the day: those who work in real estate accounted for 23.05 per cent of the net jobs growth in the UK over the past year. In fact, 13 per cent of the 562,000 total jobs that now exist in “real estate activities” – which include a range of jobs, from [...]
Surge in women on bank boards after credit crisis September 15, 2013 BRITISH banks have almost doubled the proportion of women on their boards in the past six years, according to research out today from recruiter Astbury Marsden. Twenty per cent of board directors are now women across the top five biggest UK lenders, up from 12 per cent in 2007. That is the same level as [...]